Non-fungible tokens are revolutionising the art world ȁ

Non-fungible tokens are revolutionising the art world – and art theft
Alex Hern UK technology editor
© Provided by The Guardian
Photograph: Christie's Auction House
But while the new cryptocurrency craze may have brought the high-end art market into the 21st century, it’s also modernising another aspect of the industry: art thieves.
At their simplest, non-fungible tokens, or NFTs, can be thought of as “bitcoin for art”. Just as bitcoin created the ability to spend and save a sort of digital money without any centralised authority, so too do NFTs allow for pictures, videos, music, or anything else that can be digitally represented, to be wrapped up in a format that can be traded, stored or authenticated without needing to turn to a gatekeeper.

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